Series 7 case studies

Series 7 · Put your knowledge to work in context.

The Series 7 - formally the General Securities Representative Qualification Examination (GS) - measures whether an entry-level registered representative possesses the knowledge needed to perform the critical functions of the job. It covers sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities, and passing it qualifies a representative for a broad product set ranging from stocks and bonds to mutual funds, ETFs, REITs, UITs, government securities and hedge funds. The Series 7 case studies are 5 cases and about 3,978 words.

The $400,000 Non-Traded REIT and the Joint Account with Her Son

Denise Okafor, 61, plans to retire at 64. Her KYC profile shows 1.25 million in a 401(k) she is about to roll to an IRA at your firm, 180,000 in a taxable brokerage account, a 95,000 emergency reserve, and a 310,000 mortgage.

791 words, about 4 min 2

The Free-Dinner Seminar, the 8% "Floor," and the Personal CRM

Marcus Reed wants to fill 40 seats at a steakhouse dinner seminar six weeks out. He has drafted a flyer promising "income you cannot outlive" and "an 8% floor on your retirement money," and he plans to mail it to 3,000 households on a purchased list; 14 of those names match your firm's internal do-not-call list.

793 words, about 4 min 3

The Class A to Class C Exchange Pitch

Harold Weiss, 68, has held 150,000 of Class A shares of the Meridian Large Cap Growth Fund for 26 months, purchased with a 5.0% front-end load. He has 60,000 more to invest and says he may need the money in four to five years.

761 words, about 4 min 4

The 4:52 p.m. Email, the Cash Account, and the Brother on the Phone

Priya Raman, 47, an existing client, is in Singapore on business. Her account is a cash account with 4,000 of settled cash; the balance of the purchase will have to come from the sale.

789 words, about 4 min 5

500 Instead of 50: The Keying Error and the Cancel-and-Rebill Request

Alma Cardenas calls her rep, Ken, on Tuesday morning and says, "Buy 50 shares of CRNX at market." Ken is on another line and relays the order to his assistant, who keys 500 shares. The order fills at 30.10 - a 150,500 purchase in Alma's cash account, which holds 210,000.

844 words, about 4 min